Why does the value of output always equal the income received by resources that produced the output?

Q: An example of physical capital is O a) a worker. O b) a college degree. Oc) a computer. O d) a new…

A: There are different types of inputs , physical capital, human capital, labor and land.

Q: The present choice between investing in capital goods and producing consumer goods now affects the…

A: Consumer products are only useful in the short term and do not generate wealth. Capital items will…

Q: What are the four factors of production?

A: Factors of production: - factors of production are the resources used to produce goods and services.…

Q: Technology is defined as O the maximum output that can be attained from a stock of physical capital.…

A: In economics, technology is considered as one of the input resources that helps to generate output…

Q: Classify each of the following as a movement along or a shift of the production function and provide…

A: Production function shows the relationship between capital per worker and Real GDP generated per…

Q: Are goods developed by the military like roads, factories and new technology for communications an…

A: The economics as a study is based upon the idea that resources which each economy have are limited…

Q: conditions for production and consumption efficiency.

A: Economic efficiency refers to a condition of affairs in which all resources are distributed properly…

Q: A summary of The Four Factors of Production?

A: The four factors of production are land, labor, capital and entrepreneurship. These are the…

Q: Why is it that an agricultural economy like India is rich but the average Indian is poor? Answer…

A: The following problem has been solved as follows:

Q: “In the production process, it may be expected that a progressive increase in the input results in a…

A: Definition: A production process is a strategy for utilizing financial info or assets, similar to…

Q: An increase of 50 per cent in the cost of a certain consumable product raises the cost of living of…

A: The consumer price index (CPI) is used to measure the weighted basket of goods and services that a…

Q: How will you explain production as a source of economic well-being?

A: Production is the key feature of economic well being of any nation.The manufacturing units are…

Q: Write the production function in its simplest form (human capital being included in TFP) and explain…

A: Production function refers to a function which reflects the relationship between inputs and…

Q: F B Consumer Goods D Capital Goods A,

A: Answer - Shift in the curve from AB to EF.

Q: Q.1. Large number of technical training institutions have been started by the government. State its…

A: # With the most efficient use of resources and technology, all the bundles which the economy can…

Q: What mix of inputs should be used to produce a given level of output?

A: The production function refers to the function that determines the maximum quantity of output that…

Q: Are households primarily buyers or seller in the goods and services in the market? In the labor…

A: The simple circular flow model is used to see the flow of income and output between the households…

Q: Think of one (1) Business establishment nearby.Identify the micro and macro environment Factors that…

A: When it comes to running a business, there are numerous variables to consider. Organizations do not…

Q: Distinguish between the resource market and the product market in the circular flow model. In what…

A: The market of resource exists where entrepreneurs of resources (example, households) supply the…

Q: In what ways does franchising contribute to an overall economy?

A: Franchising is a process of marketing and distributing products where the owner of the business that…

Q: The three main factors of production are and

A: The three main factors of the production are Land, Labour and Capital

Q: Why is entrepreneurship considered a factor of production?

A: Factors of production refer to the inputs required to produce economic activities and can be…

Q: How to classify goods as consumption goods and capital goods? Is there any specific way to do so?

A: If the good is capable of satisfying the human wants directly then it is referred to be as…

Q: What are the economic significance of the stages of production

A: In economics, production is defined as a process of combining various inputs to make goods and…

Q: Why the aggre

A: Why aggregate supply curve slopes upward in the short run .

Q: Which factor is NOT associated with production at a college? Select one: a. the faculty b. classroom…

A: Production means to combine various inputs-raw materials(physical), L(labor) etc. to produce output.…

Q: 65. Which of the following is NOT an input? A. O Labour B. O Entrepreneurship C. O Natural resources…

A: As we know to produce something we need factors of production called input . And with the help of…

Q: Can an economic system based on the use of non-renewable resources maintain its standard of living…

A: A resource that is non-renewable is described as a natural substance that is not filled up with the…

Q: Many economist and business leaders feel this is the most important factor in the Factors of…

A: The factors of production are the various types of inputs used in the production of final goods and…

Q: Which

A: We know that , production process is facilitated by different factors such as land , labour…

Q: Characterize the different factors of production by identifying their roles in the production…

A: In financial frameworks, the responsibility for of production is thought to be with families, who…

Q: _________ refers to man-made resources of production. a. Land b. Minerals c. Labor d. Capital

A: The factors of production is the inputs that are used to produce the product.

Q: Discuss the factors of production and how it can be accessed.

A: Factors of production are important for carrying out business activities and for overall economic…

Q: Explain the term free-market economy.

A: There are three types of economies: Free market economy Command economy Mixed economy

Q: Based on your answers to above parts a and b, comment on how the total production in the U.S. using…

A: GDP is the sum total of the market value of all final goods and services produced within the…

Q: Which of the following is a factor of production at a university? electricity Scantron sheets the…

A: Factors of production refer to the inputs needed to create a good or service, and the factors of…

Q: What is the difference between the rates of return for a renewable and nonrenewable resource? How do…

A:

Q: Explain how households and firms interact in the factor market and in the product market

A: Market: It is an arrangement between buyers and sellers for exchanging goods and services for money.…

Q: Assuming Prunella has only 2 units of land, how much extra output does she get from adding an extra…

A:

Q: What is the relationship between the rising cost of living and low-income communities’ standard of…

A: The cost of living is the average amount of money that people in a certain location require in order…

Q: Why socio-economic factors have a high impact on businesses, whether big or small

A: A business organization is affected by a number of factors in its internal and external environment.